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ASIA PACIFIC
CHINA ISSUES NEW M&A REGULATIONS
Lehman, Lee & Xu, Beijing
by Sandy Lin
On August 8, 2006, the Ministry of Commerce (“MOFCOM”) of the People’s Republic of China (“PRC”) and five other Chinese government authorities issued the Regulations on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors (the “2006 Regulations”), which expand on and replace the Provisional Regulations on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors (the “2003 Provisional Regulations”) previously promulgated in 2003. The Regulations, effective from September 8, 2006, are considered as a significant development in China’s regulatory regime relating to mergers and acquisitions.
[FULL STORY]
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UNHELPFUL DIRECTORS AND COMPANY PROPERTY: ARE WARRANTS AN EFFECTIVE REMEDY FOR LIQUIDATORS?
Gadens Lawyers, Sydney, Australia
by Mark Groben
>br>Bassoak Pty Ltd (recs and mgrs apptd) v Rellgrove Pty Ltd
In Bassoak Pty Ltd (recs and mgrs apptd) v Rellgrove Pty Ltd, the Supreme Court considered the circumstances where the Court would issue a warrant in relation to the books or the property of the company.
[FULL STORY]
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AUSTRALIA'S AGEING POOR – AFFORDABILITY ISSUES AFFECTING AGED CARE AND RETIREMENT VILLAGE DEVELOPMENTS
Gadens Lawyers, Sydney, Australia
by Arthur Koumoukelis
The purpose of this article is to:
• seek to explain recent developments in Government legislative reforms in the context of an increasingly ageing and financially vulnerable population; and
• provide some thoughts for the implications to the industry.
It is no longer a matter of debate that Australia's population is ageing and, to a large degree, it is so well known by the general population, that it is often a dinner party discussion point. What is not so well known or understood are the financial demographics of the ageing population and the corresponding effect this will have on the industry.
[FULL STORY]
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TAXATION ASPECTS ON M&As IN INDIAN JURISDICTION
Singhania & Partners, India
Mergers and acquisitions are an important tool of economic development and every effort should be made to incentivise the merger process in the country. Fiscal statutes form an important means of economic development by providing benefits to the concerned businesses. Large scale mergers are occurring at a fast pace within and outside the country. In this regard the income tax legislation in India is quite development oriented for domestic companies going in for merger or amalgamation and acquisition. In India, the Income Tax Act, 1961 is the primary legislation dealing with taxability of income arising in the hands of an individual or business entity. An important question that arises here is: What are the benefits available under the Income Tax Act, 1961, to companies going in for merger or acquisition.
[FULL STORY]
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